tv After the Bell FOX Business February 17, 2015 4:00pm-5:01pm EST
liz: look at this. [closing bell ringing], bells ringing on wall street. i'm david asman. bells ringing on wall street. all of the indices. kind of, went through the zero line, quite a bit today, didn't they, liz? liz: jumping back and forth. russell 2000, any feign is a record. you shouldn't have cashed out in january. david: oh, shucks. now you tell me!. liz: we went through 2100 for first time ever. can't stay there. as the numbers settle. let's get right to it. "after the bell" starts right now liz: let's get right to today's market action. oliver porshe in the house.
he gives you ideas how to weave and move through that. jordin kimmel. he believes the markets climb a wall of worry, but at the top there are good names to pick. larry shover in the pits of the cme. larry, we have, greece was this, charles plosser, philadelphia fed telling our own peter barnes we should have hiked rates yesterday? >> can you believe that? what a divergence with we're hearing in the media, both credible and otherwise and what the markets are suggesting. i would say the markets still suggest more towards september than june. seems like every day we're getting these headlines. we're starting to get a necessary that sized to when this happens. this will happen this year. whether june or september makes little difference at this point. i do believe the asset classes behind me are fully prepared for a good rate hike because economic data suggests that we should do so. david: all right. oliver portia. i can't avoid talking about
greece. frankly i wish i could because i think they're getting away with murder. did they get away with more empty promises? how will threat get away to pay off 10% bonds? they will not do that. >> they will not. david: why did they get away with it again? >> there is no choice. david: sure there is. they leave the euro and default. >> if they gets hurt if they leave the euro? germany will be the biggest damage, because it will absolutely crush them from an export perspective. it is going to destroy the euro which really, really helped them. that is really the concern here. you're playing kind after game of chicken from both sides. it is political chicken, not monetary chicken. that is the important thing to understand. if you're a u.s. investor you want to tune all that stuff out and stick with quality. that is where you're going to make your money. liz: we'll get his quality names first. but jordan, i mean i think that maybe if greece were to be jettisoned from the eurozone
there would be short-term stake to the heart but in the end the worst issue would be russians and chinese come in and they try to swoop greece in under their wings. that could be a real problem. >> well, liz, you're bringing up exactly what everyone is always worried about, something else, something else and then something else. but this remains one of the most unloved, least participated bull market i can ever remember. so yeah, there is always something to worry about. if you keep your eyes on companies with accelerating revenues and cash flow, you watch the internals of the market which are the advance-decline line, new high list, this is telling you it is a very, very healthy market. people are afraid to. afraid of ghosts and bogeymen. that is why there are so much cash on the sidelines. little participation from the individual investor. david: larry, one group wasn't afraid today, people buying oil. oil doing very well today, despite concerns about what is
happening over in europe. why the bullishness in oil? >> you know, it is amazing. seemed like a late-day rally. everybody thought, here we go again, oil will continue to drift lower down where it supposed to be. people are searching for answers. the weaker dollar was not that weak but in comparison it was. options expirations increased volatility. we see that in the equity markets as well. seems like everybody just, civic disruption we're seeing in the ukraine, also the problems in greece. seems like right now that the inventory constraints are being sung a little louder by people saying that. inventory will go away sooner than we think. supply is big, it will drain faster than we think, we deserve higher oil price. liz: i don't think so. >> i don't think so either. >> exactly. there is such a huge amount. >> just telling what you i'm hearing. liz: listen what you hear on the floor is definitely chat they're
matters. what we hear from jordan, oliver, tune it out and go for really quality names. let me get to your names, oliver. what do you like that would hold up against that wall of worry jordan talked about? >> i'm looking at ibm as an example. big blue, they had an earnings miss in the fourth quarter. but same thing happened in 2013. liz: what is that dividend on ibm right now? >> it is very small. under 2%. so there is room for them to raise the dividend which is always positive for a stock, or at least most of the time it is positive. you look what their earnings track record is, fourth quarter miss is usually followed by strong first and second quarter with good rally. in the mid 70s, high 70s. the stock is a steal. strong balance sheet and strong dividend. as jordan talked about he have about, they're growing top line and bottom line and improving margins because of all the stuff they do in the cloud with new technology. this is wonderful stock. intel, another great technology stock. large cap tech stock. place to be when looking for
growth and increasing dividends. sanofi is kind after fallen angel that is hurt part of everything going on with europe. but there is another name with great dividend, great potential next 12 to 18 months. you have to be patient and understand there will be some volatility there. david: jordan, you have growth stocks. you have home depot. home depot supply holdings much loews. i will play the bad cap for a -- cop for a moment here. we've had not great, not bad earnings reports. we had retail sales numbers not so great. we had an empire state manufacturing index number out today, definitely below expectations. so are you convinced that we have really turned a corner in growth here? how do you deal with these numbers that are not so great? >> david, very great question. the point is, i doesn't love all stocks. i don't love the stock market in general. i use screens which actually go through individual names and look for growth.
i'm not saying buy everything, buy the index. in fact, you know, home depot, which is a great name which has been in the portfolio for a while. i want to call your attention to home depot supply. this is spin-off, the stock hasn't caught momentum yet. spin-offs tend to be great investments this is growing faster than home depot. it caters more to the big contractor, not to the homebuilder, but guys building huge water projects, utilities. they're actually all over this country, new, factories being built. that is the real story of the country, not the, few companies that miss. i don't buy all companies. i screen for top line revenue growth, with march begin acceleration. so that is not everybody. that is actually what we call magnet stocks. it is really one out of a 100. liz: larry, let mow three a little water on the substantive conversation, ukraine. that cease-fire is not holding
in the far east over there because there is reported fighting. putin in the end could trump everything else, could trump greece, could trump the port workers slowing down, cranes and things. i'm wondering how serious this ends up getting. he is not the kind of guy to back down. >> yeah, absolutely. that is the thing i'm worried b we see the headlines every day. the market and participants, just continue to get callous to everything we hear. whether it be ukraine or whether what is going on in greece. the fact there is real turmoil going on in both countries with meaningful implications to markets around the world. we need to remain vigilant. we need to be diversified in portfolios and embracing volatility and rebalancing with the utmost intelligence with the information in front of us but you're right, what is going on in the ukraine matters a lot, and to a lot of countries and to all asset classes involved. david: gang, thank you very much. larry shover, oliver purskhe and
jordan. thank you very much. a snowstorm prompting the federal government to shut down today. must have been more than an inch. liz: keeping track of all the cold winter weather, fox news's molly line. what are you counting? , 90 inches. janice dean at weather center. janice, what should people prepare for at the rest of the week? we can see real snow falling on molly right now. >> poor molly. they will get to the second snowiest snowfall of all time in boston probably next 12 to 24 hours which is incredible. look at southern snow in kentucky. heard you talking about this. 14 inches. d.c., five inches for you. we know it shut the city down, right? 5.inches. west virginia over a foot -- 5.3 inches. this is the system moving offshore. look at this. let's go up to boston of the we still have the tail end of the storm bringing snow to the boston area. they just don't need to see even
a little tiny dusting of snow. they are at the third snowyist of seasons. we'll get to the second in next 12 to 24 hours. we need just .6 of an inch. we could get to the top snowyist of all time as we get through the month of february. one thing for certain, cold, calculated and premeditated air into the weekend that will us up for the next storm system that blasts across the south over the weekend. i want to make mention. we're into historic territory with the record lows. look at chicago, minus 6. going to break a record we think. break a record in detroit, louisville and new york. four degrees in new york on friday. as far as south as deep south, even florida. nashville, atlanta, montgomery, charleston, all flirting with records, even south florida could tie a record at 42. that seems relatively warm. they don't have heat down here. look at 33 in orlando.
mickey freezing his tail off. so you can see, this is dominant pattern across the east with wintery weather for much of the work week. back to you. david: ain't right, just ain't right. my bones can't take it anymore. liz: molly line is taking it day after day. she is in quincy, massachusetts right now. molly. >> yeah. as janice was talking about the final bans of the storm -- bands of the storm, the one bright spot is the snow is pretty fluffy and easy to move and hopefully get not get more than 6:00 inches because we don't need anymore as janice mentioned. 95 inches in boston. we might set more records this winter. a tough winter for mbta, the transit system. buses, trains, have been snarled up. they are under limited service. not expected to get back to normal for about a month. another big concern? roof collapses. that is something authorities are worried about all across the
state. also digging out the fire hydrants. something firefighters see as a priority. can cohaset see it priority. put up on the facebook page, if you dig out hydrants and show them proof there is a gift card. dunkin' donuts or itunes. people getting creative. the winter is not yet over, liz, david. david: i wonder if amazon is doing two-day prime to boston? hard to get around to something for two days in boston folks. a musician, actor, producer, "snl" alum and who can forget the blues brothers or "ghostbusters." successful and entrepreneur and founder of a successful vodka company that has gone global. dan akroyd joining us next. liz: investors checking out mgm stock in the past year. here's the deal, down 16%. but a resurgence in las vegas in particular, a strong start to the year may have mgm coming
back. cfo makes his case for the stock next. david: will this year's deep freeze do what last year's did to the economy? remember what happened then? if it throws a wrench into our economy, perhaps a downturn in the gdp will it also delay that rate hike? our panel debates all that and more coming up.
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liz: if you have ever been in a casino where they have the high-roller rooms, you know a lot of these people with the money are smoking. what happens when you shut down the smoking? mgm resorts international reported weaker-than-expected fourth quarter results today. they missed on both the top and bottom line. regardless shares closed up nearly 2%. what is driving the stock? what brought it down to the numbers where it missed the ratings here? joining me in fox business exclusive. we have mgm resorts international chief financial officer and executive vice president. let's talk right off the bat about the fact that this is a bad news-good news story. the bad news is china, macaw. these, macau. revenues dropped precipitously. they banned smoking, right?
don't a lot of china niece people that go into casinos, don't they want to light up? >> well, liz, that is something that we've been challenged with in the latter part of the year as well as a few other issues that have come up in china. i think really what you're seeing in macao a correction in the marketplace on strong growth that has taken place over last few years. what we have to be mindful of, there is a market where there is over $40 billion of revenues shared among six concession heirs. there is tremendous opportunity in macau. that is not without its challenges and we're happy to be there around think the long term is a lot more upside for macau going forward. liz: maybe the smoking ban, maybe they will absorb that and deal with it and live a bit longer to roll the dice a bit longer. stalk right off the bat about las vegas. that is the shining point of the looks like people are going back to vague bass. give us anecdotal evidence.
what have you seen with all your properties there? >> you look at last year here in las vegas we reached an all-time record in terms of visitation. the mix of that visitation continues to improve. we're upwards around 41 million visitors here in las vegas right now and growing. with 42,000 rooms, as a company are extremely leveraged to an improving economy here in las vegas. that is starting to show. it is starting to be more consistent in the results we're reporting and the growth in both top line and our cash flows as well. liz: on top of it, you know when you think of vegas, everybody talks about gambling, but there is non-gaming revenue and i'm specifically thinking about the convention opportunities. consumer electronics show, we were there, wow, i mean hundreds of thousands of people coming in. they have money to spend. how does m-fm grab that business? of course you own the bellagio as well. >> well, that's right. we own 10 resorts here in las vegas and what one has to
remember is, 70% of our revenues today come from non-gaming aspects. so although the history of las vegas has been be around the gaming side of the equation, really over the past couple of decades we've been transforming into a broader based marketplace. when shows like ces come to town, like back in january here with 170,000 visitors, we're one of the only cities that can really handle that type of volume and, our resorts flourish at that opportunity. liz: you have an occupancy rate that has climbed. it is now at 88%. make your pitch right now, dan. talk to people, who, i always stay at the venetian or i stay at the encore? grab that business away and bring it to one of your 10 resorts there right now. you've got your shot. >> i would tell you we offer by far best in service and amenities and most restaurants and shows of any operator here in las vegas given our breadth of opportunities and, with our
life loyalty program people are able to enjoy a lot of those benefits by staying within the mgm resorts family of properties. from a service, from a quality, from an accommodation standpoint, no one can match what we can offer here in las vegas. liz: he will with the stock is down year-over-year by 16% but up over the past year by about 95%. for those of us in long-term investing, go for it. dan, thank you so much for joining us. >> thank you for having me today. liz: thanks. david: he is known for roles in legendary films like "ghostbusters", "blues brothers," many mower. dan akroyd is walking in as we speak, live in color from coast to coast, in studio d for your entertainment and his successful ventures outside of hollywood. that is in a moment. greece may ask for an extension of its loan agreement for the rest of the eurozone. how in the world will greece pay
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engineered to get you there and back safely. for tomorrow is another fight. the 2015 m-class. see your authorized dealer for exceptional offers through mercedes-benz financial services. >> how many times has this happened to you? you have a bass and you're trying to find a exciting new way to prepare it for the dinner table? you could scale the bass, remove the bass's tale, head and bones as any other fish dinner. why bother as when you can use the ronco bassomatic. liz: that is dan akroyd performing super bassomatic skit on the 40th anniversary "saturday night live" show.
he has successfully tapped into the liquor market. david: none of the fish is in the liquor that he served. just to get that clear from the beginning. dan akroyd, is founder of crystal head vodka, award winning brand recently been crowned 2015's top vodka in the whole world, even russians love this stuff. >> they do. david: we're going to talk about this in great length but i just, wanted to bring out something from "ghostbusters," if you don't mind, going way back when it first came out because there is a new version coming out we'll talk about. play that line. this is a business channel this has to do with business. play the sound from "ghostbusters." >> personally i like the university. they gave us money and facilities. we didn't have to produce anything. you've never been out of college. you don't know what it is like out there. i worked in the private sector. they expect results. david: i love that. because, so many of, times nowadays we're being guided and directed by people who are all from the university. no experience in the private sector. >> i know quite a foot perpetual
students who are still there, getting second phd, the third phd. academic life is comfortable. david: exactly. >> tenure and college. david: don't have to produce results like everywhere else. >> yes that is true. that was a surely a harold ramis line. liz: you produced quite a decent result with crystal head. 2008 you came on to show us this. i thought that is nice gimmick with the head and face and glass. in the end this is now the number one vodka. it has won many, many awards. what do you know from vodka? >> i didn't know much before i started research some of the additives that go into lesser priced products. we're a premium, super premium product. we appeal to the consumer 25 and up can afford to step up to treat themselves to a better product. i just wanted to do something better. i found out a lot of products use glister rides used in soap and shampoo. they don't put enough to kill you. government doesn't mind. there is not enough that would
hurt you. if you're a bartender around make a drink if you knew you had a vodka with no additives, why not? that is choice. lemionine is caustic cleanser in raw form and add sweetness and put sugar. we have chatham, ontario, peaches and cream corn around water from newfoundland. we're manufactured by the government of province of newfoundland. >> oh, canada. >> water around quality. david: you filter it over diamonds? >> we pour it over micron filter, charcoal filter. distilled four times. that is the taste profile give us a heat of kick off the finish. diamond -- david: you're a great salesman. >> sell the bassomatic. diamonds are the last touch. david: you were up against some very heavy hitters. think of people in the liquor business. they have been at it for centuries really, particularly when it comes to vodka.
how did you crack the market? now as i said, you're number one? >> like you said in the beginning the package got a lot of people's attention. now we get to the point where people are trying it and seeing nice clean difference. we grew very programs for bars and liquor stores. i'm going around lecturing. >> small verse here. >> you can get the mini. liz: russians and putin will come after you now? >> we won a moscow medal. we won the medal out of 400 beverages. they voted us excellent taste. russians really do love this product. i probably at some point will have to go over there to meet the market. liz: coming off this great "snl" event over the weekend. what was that like? you guys are known, your team was known as the organizationnal sort of, ultimate hilarity team. to be around everybody is just great. >> you know, what was great just to see what came after us. this, we were the shoulders that the show was built on, but look at the, look at the comedy icons that came after us.
look at chris katatn that whole cast. ferrell, hartman, victoria jackson the girls. they built it into legacy. i don't know of any institution lasted that long. david: i was asking. thinking of lee strasburg. there is no group or institution created as many talents as this one tv show. >> that's true. i see 10 more years. however loren wants to go. david: loren michaels the producer said, if it is not broken don't fix it. he is using same format. has he been pushed by executives who think they know better to change things now and then? >> beginning of the show there was pressure from certain quarters. he said, no, i'm not going to compromise. liz: there was a season he said the nbc suits would call him say, fire dana carvey or fire adam sandler. these guys -- >> glad he didn't. liz: they're huge comics. they're big guys. talk about "ghostbusters" though, the all-female.
would you have liked to have been part of that? will you be part of that. >> yes, i'm going to be executive producer. of course i will be helping in any way i can. and i have got three daughters, though i believe in female empowerment. you know and paul's script is really funny. it will get better. we're going to have a very big hit there. david: do you have any part in writing any of these scripts? you didn't the first one. >> yes. i mean of course, if called upon i will help i think we'll leave it in the hands of creators, let them do their thing. i think of ecto mobile. has a chassis and wheels but need as new engine. needs new steering and transmission. this is what the movie will do for it. david: good stuff. liz: dogs and cats living together line. that scene. >> that is murray. that is murray. you know -- liz: you had preceding line which was real fire and brill stone stuff. just fantastic. >> you know. harold ramis was my cowriter. we all did writing on it.
i miss him dearly. but i hear his voice working on this new one, trying to give ideas and thoughts. i hear harold. i hear his intelligence, you know. he has kind of coming through me. david: wow, that is great stuff. so is this by the way. easy to remember the name because like the bottle it is called crystal head vodka. >> everything in moderation. david: everything in moderation. >> sip shots. no hangover. beyond that you are drinking alcohol. no glyceride, no sugar. unpolluted. liz: good to see you, dan akroyd. david: continued success. liz: another big name at "saturday night live"'s 40th anniversary, comedian joe piscopo, he will be on neil cavuto tonight at 8:00 p.m. don't miss it. david: deep freeze it had the country last year hit growth very badly. we were down 3% in first quarter. mother nature is at it again. will the economy be in a deep freeze like last year?
are we in the course of a rate hike? we'll talk about that with our panel. liz: retailers and automakers taking big hits. we have very latest straight ahead. david: is treasury secretary jack lew about to get hit with a clawback? we'll tell you what that's about, coming up. ♪ i've been called a control freak...
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ameriprise asked people a simple question: can you keep your lifestyle in retirement? i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens when your paychecks stop? because everyone has retirement questions. ameriprise created the exclusive confident retirement approach. to get the real answers you need. start building your confident retirement today. liz: time for a look at today's market drivers. the s&p 500, did it, pushing to
an all-time high today as investors bet that greece will get an extension on its bailout package. health care and financials were the top performers of the day. oil ending up 1.4%, settling at the highest level since december. oil up 9% over the past three trading sessions. gold tumbling, did you see this, to a six-week low on speculation that chinese demand will fall during the lunar new year holiday. precious metal ending down 1.5%. a hit of $18, to $1201.60 a troy ounce, david. david: my gold. last year's gdp dropped because of last year's winter weather we thought we wouldn't see for a while. this year is proving us all wrong. will we see another drop because of weather again? sabrina schaefer, hilary kramer, ang capital president and chief investment officer and our own
cheryl casone. ladies, what about the weather? cheryl, will we see another drop in gdp because of this? >> absolutely. we saw proof in the pudding for first quarter of 2014. it will happen again. remember the size of the population in these east coast cities that have been affected. look at boston, new york, d.c. this is where a big chunk of the population, spending population is. they are not spending. they are hunkering down. businesses not getting goods and services. we talked about the earlier today the port of los angeles. david: right. >> the storms and port shutdown will be a problem for gdp. david: hillary, i will throw in a couple of other things. of course we have greece but we have less than stellar retail season. this holiday season was not all that great. plus retail sales were down. plus today we had a bad manufacturing report from empire state. >> that that is a concern, davif course. what will eventually happen we'll see it play out in the gdp. the good news we're still seeing
inflows into the he can get market. we're seeing our equity markets at all-time highs. david: true. >> that is the proof in the pudding. money is fleeing out of europe. situation in greece, i'm one of the believers that i think greece will be on the drachma and left-wing anti-austerity measure parties but i think we'll be just fine but gdp could take a bit of a hit because of the weather. david: sabrina, quickly what do you think. >> all you have to do is look at the transportation sector of the economy. one of the last storms canceled 7300 flights. it cost the economy $230 million. that wasn't even the cost to the airlines. just a loss to the economy alone. they really do have big impact. david: focus a little more on greece. looks like the greeks can keep their hands in the cookie jar a little longer but where will they get the money to pay off their loans? they have to pay 10% interest on their bonds, hillary. that is just an extraordinary amount of money to pay.
>> well, what will happen is, the banks, david, they will take another haircut. that is really the story. either banks take the writeoff in europe mainly which is why european banks are doing so poorly and we'll see a six-month extension. this is kicking the can down the road again. david: but, sabrina, play for you or read for you some of what the greek finance minister said today in the "new york times." he said we're also determined not to be treated as a debt colony that should suffer when it must. a debt come my any -- colony, that is victim language. that is the card the greeks are now playing. they're not victims. they're spend think of the. >> he talks about -- spendthrifts. >> false promises greek government promised people through endless handouts they couldn't afford. he is theory that is becoming popular. hard to separate the greek debt
problem from the eurozone problem. that is an interesting question how we are going to handle it. david: cheryl, will we see a default? >> no. you're seeing posturing from the greek finance minister in particular. you have a very left-wing government got elected on one promise. they will go back on that promise. greeks always go pack on their words. this administration will be no different. david: ladies, coming up what will hillary clinton presidential run look like under stewardship of outgoing white house counsel j3hn poe test today. who should be in charge of wall street clawbacks. liz? liz: snow and ice disrupting travel across the country grounding flights and leaving thousands of passengers stranded. we're taking you live to reagan national airport where d.c. is all but shut down. that is coming up. employers at west coast ports refuse to unload ships. which industry are suffering worst. you may own stocks that sell this stuff straight ahead. ♪
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elected into obama's third term? let's bring back our panel. sabrina, what do you think? >> this is bad news for taxpayers, it is bad news for the economy. remember, podesta was advisor to president clinton of the founder of the liberal center for american progress. been advisor to obama. i think that hillary may be looking at him a nod to security and she is sort of in charge and things are working well on her campaign but i see it as a nod to the fringe left of her party and, he is someone who is really promoted the use of executive orders to pass through unpopular policies. i it think would be very bad news. david: well, cheryl, he is an ideologue. and will want some kind of a pay back in working in campaign, do you think it will be in terms of policies. >> i don't think so. if she brings him and does this he is the go-to guy, she had so many problems in 2008 with infighting in her own campaign. podesta is someone that frankly throws the hammer down and gavel
down and all right, kids, let's make this work. i think she will bring i am in to be the organizer. will he want something that first year? i don't think so. i think more -- david: i don't know. that is what motivates the guy. >> oh, i think john podesta is so left, left, left of left, that, environmental way he will cost taxpayers so much. he will cost our economy so much money. david: will hisry listen? will hillary listen to what he propose. >> she won't. >> she would have to, ultimately she will lose a lot of political power. it will end very badly. david: when treasury secretary jack lew lack. >> was working for -- was working for citibank he was working at ground zero for the financial met down. under new regulations would lew have to return the bonus money he got when he was at citi? cheryl, what do you think? >> great idea. i have to say at end. day, she is are politicians and
this is jack lew, the treasury secretary. i don't think he would have to return the money. david: hillary, we should mention what we're talking about. new regulations the bureaucracy wants to put out there would allow regulators come in and claw back as they say, bonus money bureaucrats decided was ill spent. >> i think this is actually possible to happen within the next two years. we'll see these clawbacks and also happen in the form of bonuses that won't be paid. that is where it is going to play out in reality. so every investment banker get ready. david: sabrina irony, jack lew was one of the biggest supporters of dodd-frank from which these new regulations come and he may suffer from it. >> citibank or citigroup i should say, received $45 billion in payouts. i think it is kind of interesting we're now seeing this. this is problem with the revolving door here in washington. we'll see what happens. wall street placed a lot of hope in having republican congress and they may have overplayed their hands. democrats are doubling down on
not wanting to reform dodd-frank in the same way. people senator elizabeth warren. david: really tough, david. >> i'm sorry, set treasury secretary. they won't do it. david: i'm doubling down on my bet they won't claw back from jack lew. he has pull. you know how that influence works in washington. great panel. hillary schaefer, sabrina and cheryl casone. catch sabrina and other "forbes" guest at 11:00 a.m. eastern on saturday on "forbes on fox." i will be there. we hope you will to. liz? liz: the dispute at the west coast ports continue as employers refuse to unload ships for six out of tense days. major issue is the employers and unions there is this impasse. premium wages. employers refuse to pay workers for weekend, right now and holidays. the economic impact of the delays are starting to add up. agriculture transportation coalition estimates it will cut ag exports by $1.7 billion.
the meat and poultry industry losing 85 million a week. retailers could lose as much as 3.8 billion this year according to new estimates. companies are already weighing in. levi strauss was concerned it would not receive products in time for spring deliveries. honda says shortages at plants will impact production on multiple days over next week. subaru, if things go on could hinder production at u.s. plants. david: causing a lot of problems. another thing causing problems is that winter storm which essentially covered washington, d.c. in snow and ice. that caused federal offices to close. the big storm disrupting travel all over the northeast. we head live to reagan national airport to find out what is being affected. liz: plus, just how large and involved has the cyberspace really become? we're going to hear from fireeye ceo dave dewalt next. >> hi, everybody, i'm
price, we can help guide your retirement savings. our experience is one reason 100% of our retirement funds beat their 10-year lipper averages. so wherever your long-term goals take you, we can help you feel confident. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. call us or your advisor. t. rowe price. invest with confidence. liz: thousands of flights are canceled across the country as snow continues to blanket the world, or nation. david: rich edson live at
international airport. we talk about how washingtonnians freak out within of snow on the ground. i can see the airport is dead behind you. >> four inches paralyzed the city. reagan national airport, dug out. plows were going all last evening. ready and open for flights at 6:00 this morning for first flights to leave. slow it down with deicings. other problems at airports and ripples throughout the system. look at more than 3,000 flight delays nationwide, not all because of the weather. but the number is high largely because of the weather. is a hundred cancellations. much of that in the southeast -- 15 cancellations. charlotte. reagan national where i am, 136 flights canceled. laguardia, 113 and raleigh-durham at 74. this is pretty big year for flight delays and cancellations. we talk about the economic impact and figures it out.
here what they got. one billion dollars in expenses and lost productivity because of the weather thus far in 2015. plans disrupted they say for two million passengers. 26,000 canceled flights and $83 million worth of impacts to the airlines. but, david, you hit on it here in washington, d.c. federal government is closed. white house brief be was put out. easy to get out of the streets on washington d.c. they're not quite plowed but nobody on the road. back to you. david: liz: such an advantage. thank you, rich. david: earlier this afternoon deirdre bolton folk with fireeye's ceo about the cyber surveillance program and current space of cyberspace. part of our fox rewind. take a look. >> we track almost 300 different adversaries, deirdre, around the world up from 50 a couple years ago. we're seeing more and more entities getting involved. we're seeing more and more countries and nation states get
involved. crime is at rise. espionage is on the rise. cyber monitor something on the rise. another indication where things are going in cyberspace. >> sooner rather than delay, delay, delay. what is likely to happen the economy continues to improve. if we delay too long we may be faced with a situation of raising rates much more rapidly because the data will tell us too. i would rather us, get started, raise rates and in response to the data. if the data come out unusually good, we may have to raise rates faster. if we have a shock some kind we can slow down and stop. that is the way we need to think about policy. liz: philly fed president charles plosser speaking speakih beat peter barnes exclusive. if you want to see the rest of the interview, go to foxbusiness.com. david: number one thing to watch. hillary camer, what is number
one thing? >> we might see a hint that rates might start to go up sooner than what i predict which is 2017. that could joss sill the markets. david: in what way? what specifically? change in language or what? >> because this whole issue being patient. the fed said we'll be patient. the problem we have a little bit too much strength in the market. what will the fed do? they look like they're asleep at the switch. they will have to hint they might start to raise rates. ultimately our market could still go up but might mean a little hiccup. liz: they're watching greece closely i'm sure. >> greece, globally is the big geopolitical issue. there we have to be concerned but hopefully what we'll see for that default and return to the drachma in greece, is probably six months down the road. david: you think there will be default eventually? >> of course they will default. they have to default. banks we're only talking 270 billion u.s. dollars.
what will happen, banks swallow it. they took a haircut already in 2012. david: hillary. thank you very much. liz: "willis report" is next. thanks for joining us. >> hello, everybody, i'm gerri willis and this is "the willis report. the show where consumers are our business. after staying out of the fray for months the obama administration tries to broker a deal in the west coast ports dispute but can the white house end the labor fight which already started to damage businesses and the economy? america in a deep freeze. >> heaviest snows did fall to the south. picked up three to six inches of fluffy snow. gerri: states of emergency in the south as the federal government shuts down. roads, rail, air travel are disrupted. costco no longer takes the american express card. what does the split mean for shoppers and will other companies follow suit? also the feds pushing super lowdown payments on